While the rumor mill focuses on Twitter’s (TWTR) potential takeover, the social network has been working out a business deal with Cheddar.
On Monday, Twitter announced a new partnership with the video news network founded by former BuzzFeed COO Jon Steinberg in February—the “CNBC for millennials,” according to the Wall Street Journal. Cheddar will live-stream its 9 a.m.—10 a.m. Opening bell and 3 p.m.—4 p.m. Closing bell broadcasts on Twitter from the floor of the New York Stock Exchange.
“Twitter is the fastest way to find out what’s happening in the world, and to engage in the live conversation about it,” Twitter chief financial officer Anthony Noto said in a press release. “Partnering with Cheddar will give people on Twitter another way to watch and discuss the day’s top stories as they unfold live all on one platform.”
When Steinberg founded Cheddar, he explained that the company was aiming to provide trending business and finance news to the tech and social media-savvy Millennials who represent a majority of the national labor force.
“We are thrilled and proud to make [Twitter] the exclusive free-to-access platform for our new hour of closing bell coverage,” Steinberg said.
In July, Twitter added Bloomberg to its live-stream lineup, which also included deals with the MLB, NBA, and NFL. The streaming deals, however, have not helped the network capture more market share at a time when investors are criticizing the company for trailing behind Facebook’s (FB) growth rate. Twitter’s chief rival has made several live video moves since soft-launching Facebook live in 2015.
